Great Lakes Advisors LLC Cuts Stock Position in PACCAR Inc (NASDAQ:PCAR)

Great Lakes Advisors LLC lessened its stake in PACCAR Inc (NASDAQ:PCAR) by 1.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,738 shares of the company’s stock after selling 492 shares during the quarter. Great Lakes Advisors LLC’s holdings in PACCAR were worth $2,781,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in PACCAR in the 4th quarter worth $37,000. Kestra Investment Management LLC acquired a new stake in PACCAR during the 4th quarter worth $37,000. Regents Gate Capital LLP acquired a new stake in PACCAR during the 4th quarter worth $44,000. OFI Invest Asset Management acquired a new stake in PACCAR during the 4th quarter worth $43,000. Finally, Larson Financial Group LLC boosted its stake in PACCAR by 39.1% during the 4th quarter. Larson Financial Group LLC now owns 548 shares of the company’s stock worth $57,000 after purchasing an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Trading Up 0.8 %

NASDAQ PCAR opened at $99.21 on Friday. The firm’s 50-day moving average is $107.17 and its two-hundred day moving average is $106.35. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The stock has a market capitalization of $52.07 billion, a P/E ratio of 12.54, a PEG ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, sell-side analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is presently 16.69%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Evercore ISI lowered their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Citigroup lowered their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and a consensus price target of $120.35.

Insiders Place Their Bets

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares in the company, valued at $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now owns 951 shares in the company, valued at $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock worth $18,261,908 over the last three months. Company insiders own 2.02% of the company’s stock.

PACCAR Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.